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Groupama pull the plug on America's Cup

In a statement released Monday, Groupama confirmed the end of its sailing sponsorship alongside Franck Cammas for the next America's Cup.

The insurance group, which has backed Cammas while winning the Route du Rhum, Transat Jacques Vabre, Volvo Ocean Race and Trophy Jules Verne, decided not to follow him in the new version of the America's Cup 2021.

Groupama say that the sporting and geographical framework announced by the New Zealand holders is now too far from its natural European and French bases.

Cammas can still count on the support of Norauto, and hopes he can "exploit other interesting and innovative ways of financing."

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